# Oil prices on track for steepest monthly fall since 2020 | Oil | The Guardian

> Oil prices were on track for their biggest monthly fall since 2020 as investors hoped for an end to the US-Israel war on Iran. Brent crude was down 1.3% on Friday at about $92 and 19% lower since the end of April.

- Date: 2026-05-29 · published 2026-05-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12721-oil-prices-on-track-for-steepest-monthly-fall-since-2020-oil-the-guardian
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of an end to the Iran conflict and a reopening of Gulf supply are pushing crude lower, which eases energy and transport costs for feed producers.

## Read by commodity

- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +2.5% | -21.2% |
| BRENT | 2026-05-29 | [Oil prices log steepest weekly loss since April on potential US-Iran peace deal \| The National](https://feedsoft.ai/events/12723-oil-prices-log-steepest-weekly-loss-since-april-on-potential-us-iran-peace-deal.md) | +2.5% | -21.2% |
| BRENT | 2026-05-06 | [Oil and gas prices fall sharply, driven by hopes of strait of Hormuz reopening – as it happened \| Business \| The Guardian](https://feedsoft.ai/events/9584-oil-and-gas-prices-fall-sharply-driven-by-hopes-of-strait-of-hormuz-reopening.md) | -2.3% | -11.1% |
| BRENT | 2026-04-13 | [Oil prices fall as supply concerns ease on hopes for US-Iran talks - CNA](https://feedsoft.ai/events/10085-oil-prices-fall-as-supply-concerns-ease-on-hopes-for-us-iran-talks-cna.md) | -11.3% | -3.8% |
| BRENT | 2024-09-06 | [Crude oil prices today: WTI lowest since June 2023](https://feedsoft.ai/events/12387-crude-oil-prices-today-wti-lowest-since-june-2023.md) | -0.9% | +5.5% |

## Sources

- theguardian.com: https://www.theguardian.com/business/2026/may/29/oil-price-drops-amid-hopes-of-us-iran-peace-deal

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.